Turkey is a beautiful, historical city located right between Europe and Asia. Its rich culture, ethnic diversity, the pristine beaches of the Mediterranean, cuisine, and vibrant and welcoming people are all great attractions, in addition to its booming economy.
Investment in Turkey will provide access to a huge variety of Asian and European markets and buyers, along with Turkish citizen perks. You get to keep your dual citizenship while reaping all the benefits of investment and living in a beautiful, peaceful country.
Consultants at Global Residence Index are just a call away to take you through the whole process of qualifying and applying for a Turkish citizenship visa through investment.
In this article, we will talk about everything you need to know about the Turkish citizenship by investment program.
Benefits of Turkish Citizenship: Why Should You Get One?
The citizenship visa in Turkey comes with various benefits if you plan to be a permanent resident alone or with family in any city in Turkey.
1. State Welfare
Turkish citizenship visa comes with the state services of higher education and health. To avail of these services or to become a permanent resident of Turkey, you will not be required to donate in exchange, unlike many other citizenship-by-investment visas.
2. Strong Turkish Passport
The Turkish passport allows visa-free travel to around 110 countries in Europe and Asia. Turkey is expected to become a member of the European Union in the coming months, which will open the floodgates for the EU related to work and investment opportunities. Besides, it allows your family members to attain a Turkish passport and also live there as citizens.
3. E2 Visa Eligibility
Turkish passport qualifies you for an E2 investor visa in the U.S. if your parent citizenship does not allow that. E2 visa can also be the stepping stone to getting a Green Card (G.C.) in the U.S.
Why Consider Turkish Citizenship by Investment?
The investment pathway of Turkish citizenship has several economic benefits, that is, a long list of incentives, opportunities, and a vast market. This pathway, hence, has a versatile set of benefits.
1. Foreign Investment Incentives
Turkey offers tax exemptions for foreign investors, in addition to various other legal and financial support. Turkey is a hub for entrepreneurial communities, which opens you to a world of useful connections and opportunities.
2. A Booming Economy
According to the 2021 survey by the International Monetary Fund (IMF), Turkey is the eleventh largest economy in the world, going up by two points as compared to the year 2020.
3. Strategic Location/ Access to a Wide Market
For investors, the Eurasian location of Turkey means access to a vast consumer market and the potential for global business connections. Turkish citizenship provides a gateway to regional and international trade, adding another layer of appeal for those eyeing growth and expansion.
4. A Strong Labor Pool
Turkey harbors a vast population of 85 million, of which a huge percentage is youth. The local people of Turkey are well-educated and skilled, solving the labor aspect of the business. Employing locals will also bring more business incentives for your investment.
5. Efficient Infrastructure
The business hubs of Turkey, such as Istanbul, have a strong and efficient infrastructure, including residential and commercial segregation and transport systems.
Are You Eligible for the Turkey Investment Citizenship?
For Turkish citizenship, you must meet the following criteria:
- 18 years of age or older
- No history of illegal residence in Turkey
- A clean criminal record
- A clean money trail of the investment amount
Investment Options for Turkish Citizenship
There are several investment pathways to Turkish citizenship, including:
- Purchasing property worth a minimum of $400,000 and keeping it for three years at least.
This is one of the most opted programs, and to make it easy for people looking for Turkish citizenship, help is easily available in understanding about the real estate and Turkish citizenship by investment from the consultants at Global Residence Index.
- Making a fixed capital investment worth a minimum of $500,000.
- Make a bank deposit or buy government bonds worth a minimum of $500,000 and agree not to withdraw or resale the bonds for the next three years.
- Establish a company that will employ at least 50 individuals.
Step-by-Step Guide for Turkish Citizenship by Investment
Here are the simple steps you can follow if you want to apply for Turkish citizenship through investment:
Step 1: Get your Tax ID
Visit the interactive tax page for non-citizens and get your potential tax I.D. issued. This is the first step in this process because, with a valid tax I.D., you will be able to open a bank account.
With the tax I.D., open an account in a Turkish bank.
Step 2: Checklist all the Required Documents
The next step is to apply for Turkish citizenship through an investment program. They will issue a certificate of eligibility when you qualify, which you will need to buy property in Turkey.
For that, you will need some personal documents, such as:
- Home country passport
- Proof of residence
- Birth certificate
- Passport-size colored photographs
- Tax ID
- Proof of the investment amount in a Turkish bank
- Proof of clean criminal record
Step 3: Invest and Apply for a Residence Permit
Do your research beforehand, and choose the property you want to invest in. Make the deal and immediately apply for the residence permit. The permit will be issued the same day you start your application.
Step 4: Submit the Paperwork
Get your paperwork checked by a professional and submit it. After that, you will only have to wait for three to four months for your Turkish passport.
Turkish citizenship through investment is one of the fastest ways to get a Turkish passport. The acquisition brings several incentives to grow and expand the business, not just in Turkey but also in the E.U. countries and also in the U.S. via the E2 investor visa.